Iconiq Capital, an investment firm known for managing the fortunes of Silicon Valley’s elite, said it had raised $5.75 billion for a new venture-focused fund — a significant haul signaling the continued concentration of dollars in a handful of big VC firms.
The fund is Iconiq’s seventh growth fund, and represents a sizable increase over the $3.75 billion the firm said it was targeting for its previous fund in 2021. Iconiq never publicly said what the final tally was for Iconiq Growth VI.
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